Stephen Grenville, who retired from the RBA in 2001 to make way for present
governor Glenn Stevens, has broken with economic orthodoxy to call on
governments to discourage foreign speculators from parking their cash wherever
short-term returns are highest. In a paper published by the Lowy
A FORMER deputy governor of the Reserve Bank has urged the federal government
to consider taxing short-term capital inflows to stop them destabilising
Australia's economy. Stephen Grenville, who retired from the RBA in 2001 to
make way for present governor Glenn Stevens, has broken with
At midday (AEDT), the dollar was trading at $US0.8870/76, up 0.78 per cent from
yesterday's close of $US0.8801/06. Since 07:00, the local unit has traded in a
tight range between $US0.8861 and $US0.8883. 4Cast economist Michael Katz said
the dollar had steadily regained ground after
AAP The Australian dollar was higher at noon as stronger commodity prices and
gains on equities markets helped it claw back some of Tuesday's losses. At 1200
AEDT, the Australian dollar was trading at $US0.8870/76, up 0.78 per cent from
Tuesday's close of $US0.8801/06. Since 0700
The Australian dollar was higher today as stronger commodity prices and gains
on equities markets helped it claw back some of yesterday’s post-rates
announcement losses. At midday, the Australian dollar was trading at 88.7 US
cents, up 0.78 per cent from yesterday's close of 88.01 US
In an accompanying statement the Australian monetary authorities noted that
they decided to err on the side of caution in order to assess the impact of the
earlier tightening moves which included three consecutive monthly rate hikes in
late 2009. The board stated,” With the risk of serious
A FORMER deputy governor of the Reserve Bank has urged the federal government
to consider taxing short-term capital inflows to stop them destabilising
Australia's economy. Stephen Grenville, who retired from the RBA in 2001 to
make way for present governor Glenn Stevens, has broken with
